Strategic Cooperation Agreement Between CPF & AKVA

NORWAY - Charoen Phokphand Foods Ltd. (CPF), the world's leading producer and supplier of farmed White Shrimp, and AKVA group ASA, the world's leading supplier of technology for the aquaculture industry, have signed a strategic cooperation agreement for developing a complete new production system for the production of white shrimp utiliSing AKVA's recirculation technology and CPF's broad knowledge in shrimp farming.

CPF is working actively to improve their production methods and technology. A natural next step for the shrimp farming industry is to utiliSe new technological opportunities to address many of the challenges of the industry and society today.

"This strategic cooperation agreement with AKVA is an important step for us in our strive towards a transformation of the shrimp farming industry. By this project we are addressing important issues for the industry such as; the level of which marine resource and land areas are utilised; the escaping of shrimp from farms to interfere with wild stocks; the control of diseases and efficient battling of parasites; the elimination of, and risks of pollution from shrimp farms and other possible effects on the habitats where the farming is done. Further to this we believe that the technology that this strategic cooperation agreement will produce has the potential also to limit the carbon footprint of the produced shrimp significantly," says Dr Chingchai Lohanawatanakul, Chairman of the executive Board, of CPF.

Mr Knut Molaug, CEO of AKVA group said, "The first step of the strategic cooperation includes developing a full scale prototype of a 200 ton/year intensive facility for white shrimp (Litopenaeus Vannamei), as an integrated solution. For AKVA group this is an important step forward in our development in the Asian market and the furthering of our recirculation technology in the global market. We appreciate the initiatives and eagerness that CPF is showing in this project and are looking forward to the results from this cooperation for both parties."